Horse racing, Casino and online gaming lovers may have to pay higher taxes. ET Now has learnt from sources that the Group of Ministers may approve 28% GST on these gambling sports Exclusive Sources GoM may approve 28% GST on Horse racing, Casino and Online gaming GoM is meeting on May 18th to take a final call on GST rate Most states are agreed on 28% GST slab for all three category But for online games, few states want GST slabs based on sub category of games GoM to discuss flat 28% GST or 18% and 28% based on category of online games GoM to also decide the modalities of tax calculation, on transaction value or on overall value Financial and legal aspect of taxation will be cleared by the GOM on 18th May Final report of GoM will be submitted to GST council is expected to meet later this month once GoM report is submitted Alert: At present Casinos, Gaming and horse trading attract 18% GST Stocks to be impacted.
We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.
Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN
Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!
For more details and purchase online at: https://cutt.ly/RFMox8D